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Hogs Slip Lower on Monday

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Lean hog futures declined on Monday, with contracts dropping 70 cents to $1 across June, July, and August 2024 deliveries, reflecting weaker market sentiment. USDA reported the National Average Base Hog price at $88.30, up $2.45 from Friday, while the CME Lean Hog Index rose 49 cents to $91.49 as of May 30. The National Pork Carcass Cutout Value fell $1.82 to $101.43, with all primal cuts declining, signaling reduced demand for processed pork products. Federally inspected hog slaughter reached 483,000 head last week, surpassing the prior week due to a holiday backlog and exceeding year-ago levels by 18,294 head. June 2024 hog contracts settled at $93.65, July at $96.28, and August at $95.63, all closing lower amid broader commodity market fluctuations.
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AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Hogs Slip Lower on Monday June 03, 2024 — 07:21 pm EDT Written by Alan Brugler for Barchart-> Lean hogs ended the Monday session slipping lower, with contracts down 70 cents to $1. USDA’s National Average Base Hog negotiated price was reported at $88.30 in the Monday afternoon report, up $2.45 from the day prior. The CME Lean Hog Index was up 49 cents on May 30 at $91.49. USDA’s National Pork Carcass Cutout Value was back down $1.82 Monday PM print at $101.43. All primals were reported lower. USDA estimated federally inspected hog slaughter at 483,000 head last week on Monday. That well above last week because of the holiday and 18,294 head above the same week last year. Jun 24 Hogs closed at $93.650, down $0.700,Jul 24 Hogs closed at $96.275, down $0.850Aug 24 Hogs closed at $95.625, down $0.875,On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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